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Artisan Partners Asset Management Inc.（APAM）与APPFOLIO INC（APPF）财务数据对比。点击上方公司名可切换其他公司
Artisan Partners Asset Management Inc.的季度营收约是APPFOLIO INC的1.3倍（$335.5M vs $262.2M），Artisan Partners Asset Management Inc.净利率更高（35.2% vs 16.2%，领先19.0%），APPFOLIO INC同比增速更快（20.4% vs 12.9%），过去两年APPFOLIO INC的营收复合增速更高（15.3% vs 12.7%）
阿蒂森伙伴资产管理公司（Artisan Partners）是总部位于美国威斯康星州密尔沃基的资产管理机构，除美国本土外，还在都柏林、香港、伦敦、新加坡、悉尼设有办公室，为全球客户提供专业的资产管理服务。
AppFolio Inc.是一家2006年成立的美国企业，专注服务房地产行业，为客户提供软件即服务（SaaS）类应用产品及相关配套服务，助力房地产相关经营主体优化管理流程、提升运营效率。
APAM vs APPF — 直观对比
营收规模更大
APAM
是对方的1.3倍
$262.2M
营收增速更快
APPF
高出7.5%
12.9%
净利率更高
APAM
高出19.0%
16.2%
两年增速更快
APPF
近两年复合增速
12.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $335.5M | $262.2M |
| 净利润 | $118.1M | $42.4M |
| 毛利率 | — | — |
| 营业利润率 | 39.2% | 19.4% |
| 净利率 | 35.2% | 16.2% |
| 营收同比 | 12.9% | 20.4% |
| 净利润同比 | 34.9% | 35.2% |
| 每股收益（稀释后） | $1.36 | $1.18 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收APAMAPPF
| Q1 26 | — | $262.2M | ||
| Q4 25 | $335.5M | $248.2M | ||
| Q3 25 | $301.3M | $249.4M | ||
| Q2 25 | $282.7M | $235.6M | ||
| Q1 25 | $277.1M | $217.7M | ||
| Q4 24 | $297.1M | $203.7M | ||
| Q3 24 | $279.6M | $205.7M | ||
| Q2 24 | $270.8M | $197.4M |
净利润APAMAPPF
| Q1 26 | — | $42.4M | ||
| Q4 25 | $118.1M | $39.9M | ||
| Q3 25 | $66.8M | $33.6M | ||
| Q2 25 | $67.6M | $36.0M | ||
| Q1 25 | $61.1M | $31.4M | ||
| Q4 24 | $87.5M | $102.7M | ||
| Q3 24 | $73.0M | $33.0M | ||
| Q2 24 | $57.6M | $29.7M |
营业利润率APAMAPPF
| Q1 26 | — | 19.4% | ||
| Q4 25 | 39.2% | 17.6% | ||
| Q3 25 | 33.8% | 14.1% | ||
| Q2 25 | 28.2% | 17.2% | ||
| Q1 25 | 31.2% | 15.5% | ||
| Q4 24 | 36.7% | 11.3% | ||
| Q3 24 | 33.3% | 20.7% | ||
| Q2 24 | 32.0% | 18.3% |
净利率APAMAPPF
| Q1 26 | — | 16.2% | ||
| Q4 25 | 35.2% | 16.1% | ||
| Q3 25 | 22.2% | 13.5% | ||
| Q2 25 | 23.9% | 15.3% | ||
| Q1 25 | 22.1% | 14.4% | ||
| Q4 24 | 29.5% | 50.4% | ||
| Q3 24 | 26.1% | 16.0% | ||
| Q2 24 | 21.3% | 15.0% |
每股收益（稀释后）APAMAPPF
| Q1 26 | — | $1.18 | ||
| Q4 25 | $1.36 | $1.10 | ||
| Q3 25 | $0.93 | $0.93 | ||
| Q2 25 | $0.94 | $0.99 | ||
| Q1 25 | $0.82 | $0.86 | ||
| Q4 24 | $0.99 | $2.79 | ||
| Q3 24 | $1.03 | $0.90 | ||
| Q2 24 | $0.80 | $0.81 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $147.4M |
| 总债务越低越好 | $190.0M | — |
| 股东权益账面价值 | $438.8M | $470.2M |
| 总资产 | $1.6B | $580.6M |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
现金及短期投资APAMAPPF
| Q1 26 | — | $147.4M | ||
| Q4 25 | — | $107.0M | ||
| Q3 25 | — | $76.1M | ||
| Q2 25 | — | $73.5M | ||
| Q1 25 | — | $56.9M | ||
| Q4 24 | — | $42.5M | ||
| Q3 24 | — | $62.4M | ||
| Q2 24 | — | $59.6M |
总债务APAMAPPF
| Q1 26 | — | — | ||
| Q4 25 | $190.0M | — | ||
| Q3 25 | $190.0M | — | ||
| Q2 25 | $200.0M | — | ||
| Q1 25 | $200.0M | — | ||
| Q4 24 | $200.0M | — | ||
| Q3 24 | $200.0M | — | ||
| Q2 24 | $200.0M | — |
股东权益APAMAPPF
| Q1 26 | — | $470.2M | ||
| Q4 25 | $438.8M | $542.6M | ||
| Q3 25 | $402.1M | $498.9M | ||
| Q2 25 | $381.8M | $455.6M | ||
| Q1 25 | $356.5M | $462.1M | ||
| Q4 24 | $388.9M | $519.3M | ||
| Q3 24 | $372.1M | $412.8M | ||
| Q2 24 | $341.2M | $371.4M |
总资产APAMAPPF
| Q1 26 | — | $580.6M | ||
| Q4 25 | $1.6B | $689.0M | ||
| Q3 25 | $1.6B | $640.5M | ||
| Q2 25 | $1.4B | $567.4M | ||
| Q1 25 | $1.4B | $564.7M | ||
| Q4 24 | $1.6B | $626.7M | ||
| Q3 24 | $1.6B | $523.3M | ||
| Q2 24 | $1.5B | $479.3M |
负债/权益比APAMAPPF
| Q1 26 | — | — | ||
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.59× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $172.0M | $34.3M |
| 自由现金流经营现金流 - 资本支出 | $171.6M | — |
| 自由现金流率自由现金流/营收 | 51.2% | — |
| 资本支出强度资本支出/营收 | 0.1% | — |
| 现金转化率经营现金流/净利润 | 1.46× | 0.81× |
| 过去12个月自由现金流最近4个季度 | $420.6M | — |
8季度趋势，按日历期对齐
经营现金流APAMAPPF
| Q1 26 | — | $34.3M | ||
| Q4 25 | $172.0M | $65.0M | ||
| Q3 25 | $40.4M | $86.0M | ||
| Q2 25 | $50.9M | $52.6M | ||
| Q1 25 | $157.9M | $38.5M | ||
| Q4 24 | $372.8M | $36.6M | ||
| Q3 24 | $112.8M | $57.8M | ||
| Q2 24 | $75.9M | $50.9M |
自由现金流APAMAPPF
| Q1 26 | — | — | ||
| Q4 25 | $171.6M | $63.7M | ||
| Q3 25 | $40.4M | $84.7M | ||
| Q2 25 | $50.9M | $52.4M | ||
| Q1 25 | $157.7M | $38.2M | ||
| Q4 24 | $371.3M | $36.4M | ||
| Q3 24 | $112.4M | $57.4M | ||
| Q2 24 | $75.2M | $50.8M |
自由现金流率APAMAPPF
| Q1 26 | — | — | ||
| Q4 25 | 51.2% | 25.7% | ||
| Q3 25 | 13.4% | 34.0% | ||
| Q2 25 | 18.0% | 22.2% | ||
| Q1 25 | 56.9% | 17.6% | ||
| Q4 24 | 125.0% | 17.9% | ||
| Q3 24 | 40.2% | 27.9% | ||
| Q2 24 | 27.8% | 25.8% |
资本支出强度APAMAPPF
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 0.5% | ||
| Q3 25 | 0.0% | 0.5% | ||
| Q2 25 | 0.0% | 0.1% | ||
| Q1 25 | 0.1% | 0.1% | ||
| Q4 24 | 0.5% | 0.1% | ||
| Q3 24 | 0.1% | 0.2% | ||
| Q2 24 | 0.2% | 0.0% |
现金转化率APAMAPPF
| Q1 26 | — | 0.81× | ||
| Q4 25 | 1.46× | 1.63× | ||
| Q3 25 | 0.60× | 2.56× | ||
| Q2 25 | 0.75× | 1.46× | ||
| Q1 25 | 2.58× | 1.23× | ||
| Q4 24 | 4.26× | 0.36× | ||
| Q3 24 | 1.54× | 1.75× | ||
| Q2 24 | 1.32× | 1.71× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
APAM
暂无分部数据
APPF
| Value Added Services | $201.4M | 77% |
| Subscription Services | $58.2M | 22% |
